Bitcoin is weakening and approaches its 17/01/2018 collapse mark. Hourly support at 10’775 (22/12/2017) is now broken. New hourly support is located at 9’185 (17/01/2018 low). In the short-term, the technical structure suggests a continued bearish momentum. Expected to show further decline.
In the long-term, the digital currency has had an exponential growth but also presented important downturns. There is decent likelihood that the currency could stabilize between 9’000 – 12’000 in 2018. Bitcoin is trading far above its 200 DMA (5K+ gap).